U.S. ITC postpones decision on SK Innovation’s secret trade theft case

27.10.2020 - Evdokimov Roman
U.S. ITC postpones decision on SK Innovation’s secret trade theft case

On Monday, the United States International Trade Commission (ITC) announced that the decision would be delayed in SK Innovation’s (096770: KRX) secret trade theft case.

The government agency said that the final decision would be announced on December 10, 2020.

In 2019, Tesla and General Motors’ electric-vehicle battery (EVB) supplier LG Chemical (051910: KRX) filed trade complaints against SK Innovation in the United States over allegations of secret trade theft.

The largest Korean chemical company stated that SK Innovation must be blocked from producing battery cells in the United States and importing the components needed to create the EVB cells. However, SK denied LG Chem’s accusations.

“It is clear that this delay has resulted in a longer litigation process,” SK Innovation said.

Meritz Securities’ (008560: KRX) Analyst Roh Woo-ho said that the delay shows that ITC “is facing difficulties making the final determination on the case, considering the impact it will bring to industrial issues in the United States including job issues.”

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?